Local Authority Debt

Where to start…

Legal objections to LOBO loans (The MJ) – The first of a flurry of new articles on LOBO loans as, first, campaigning by Debt Resistance UK leads to residents in 24 local authorities to lodge objections to their council’s use of expensive, risky LOBO loans.

Barclays first bank to scrap LOBO loans (LocalGov) – Then, a week later, Barclays announces that it is removing the lender options on some of it’s LOBOs so that it won’t be able to impose interest rate rises or call in loans early. Don’t get carried away by that headline though…

Household Debt

Student Debt

Student loans now ‘one of the most expensive ways to pay for university’ (Mirror) – The exponential horror of compound interest ‘means that the total cost of the loan can double over the course of you paying it back’. Though alarmingly the call to action in this article is for parents to start saving as soon as their child is out of the womb to pay the extortionate entry fees to a precarious white-collar career.

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